Title
RESOLUTION AUTHORIZING A THIRD AMENDMENT TO A REAL ESTATE LICENSE AGREEMENT WITH UNITED STATES STEEL CORPORATION ALLOWING ACCESS TO CERTAIN CITY-OWNED PROPERTY NEAR AND ADJACENT TO THE FORMER U.S. STEEL SITE.
Body
CITY PROPOSAL:
RESOLVED, that the proper city officials are hereby authorized to execute a third amendment to a real estate license agreement, substantially the same as the agreement attached as Exhibit 1, with United States Steel Corporation to grant access to certain city-owned property near and adjacent to the old U.S. Steel plant site in the Morgan Park and Gary-New Duluth neighborhoods.
Statement of Purpose
STATEMENT OF PURPOSE: This resolution authorizes the city to enter into a third amendment to a real estate license agreement with United States Steel Corporation ("U.S. Steel") to grant access to city-owned property in the Morgan Park and Gary-New Duluth neighborhoods near and adjacent to the old U.S. Steel plant site (the "Plant"). U.S. Steel is completing environmental restoration and recreational access improvements in the area and needs permission to enter onto the city's property to access the Plant. The city's property is part of a city-owned railroad corridor.
The original real estate license agreement was approved on August 24, 2020, under Resolution No. 20-0667 (the "License Agreement"). The first amendment to the License Agreement was approved on September 12, 2022, under Resolution No. 22-0721, which first amendment modified the property subject to the License Agreement. The second amendment to the License Agreement was approved on August 14, 2023, under Resolution No. 23-0618, which second amendment extended the term of the License Agreement and further modified the property subject to the License Agreement. This third amendment is needed to further extend the term and modify the property subject to the License Agreement. The current property affected by the License Agreement is depicted on Exhibit A to the ...
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